CNOOC, a state-owned refining giant in China is likely to induce a maintenance turnaround at its Huizhou refinery with a capacity of 140000 barrel per day in between February-April. The turnaround will encompass the temporary closure of its crude distillation unit with a capacity of 200000 barells per day. Along with this, downstream units including a hydrotreater, reformer and fluid catalytic cracker are also anticipated to come off stream.Overall production capacity of Huizhou refinery includes 152 barrels per day of diesel, 71000 barrels per day of gasoline and 52000 barrels per day of jet fuel.
The company is regarded as a major exporter of gasoil and gasoline for the Southeast Asian region. Thus, gasoline offers are expected to slowdown in the month of February from the refiners as a repercussion of the upcoming maintenance turnaround. Although the overall impact of the shutdown is expected to be counterbalanced by increment in offers by China’s ZPC refinery.